Schlumberger commits to net zero by 2050

The decarbonisation plan is focused on reducing Scope 1, 2 and 3 emissions across the oil and gas value chain – including the introduction of a Transition Technologies portfolio to assist customers and the wider industry in their decarbonisation commitments.

The company has set the following targets:

• By 2025, a 30% reduction in Scopes 1 and 2.
• By 2030, a 50% reduction in Scopes 1 and 2; 30% reduction in Scope 3.
• By 2050, net zero, with minimal reliance on offsets.

The Transition Technologies portfolio will address fugitive emissions, flaring reduction, electrification, well construction emissions, and full field development solutions.

“There is a new industry imperative to address climate change while meeting the demand for energy both today and in the long term, sustainably. We have a 2050 net-zero carbon emissions ambition which I believe is unique in our industry due to our capabilities as a technology company and our culture grounded in science. This reinforces our commitment to unlocking access to energy, for the benefit of all,” said Olivier Le Peuch, chief executive officer, Schlumberger. “Our net-zero target is inclusive of total Scope 3 emissions; this is a first in the energy services industry.”

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